Enterprise glossary and term center

Research and understand all the intricate terms and definitions that surround the ecosystem of enterprise resource planning (ERP), enterprise software and no-code tools.

First In First Out - How do you do first in first out?

To calculate FIFO (First-In, First Out) determine the cost of your oldest inventory and multiply that cost by the amount of inventory sold, whereas to calculate LIFO (Last-in, First-Out) determine the cost of your most recent inventory and multiply it by the amount of inventory sold.